SCHEDULE 13G/A: Investment Firms Disclose Amended Beneficial Ownership in Gildan Activewear Inc.
Beneficial Ownership Disclosure (Schedule 13G Amendment)
Multiple investment entities, including Jarislowsky, Fraser Limited, have filed an amended Schedule 13G disclosing their beneficial ownership of Gildan Activewear Inc. common shares, totaling 6.088344% of the class as of December 31, 2024.
Summary
- Four investment entities, 1832 Asset Management L.P., MD Financial Management Inc., Scotia McLeod (a division of Scotia Capital Inc.), and Jarislowsky, Fraser Limited, have jointly filed an Amendment No. 2 to Schedule 13G regarding their beneficial ownership of Gildan Activewear Inc. common shares.
- As of December 31, 2024, the aggregate amount beneficially owned by these reporting persons is 9,309,211 common shares, representing 6.088344% of Gildan Activewear Inc.'s class of securities.
- Jarislowsky, Fraser Limited holds the largest portion, with sole voting and dispositive power over 8,742,358 shares, equating to 5.717615% of the class.
- 1832 Asset Management L.P. beneficially owns 327,465.00 shares (0.214166%), with sole voting and dispositive power over 326,865.00 shares and shared power over 600.00 shares.
- MD Financial Management Inc. beneficially owns 122,709.00 shares (0.080253%), with sole voting and dispositive power over all its holdings.
- Scotia McLeod, a division of Scotia Capital Inc., beneficially owns 116,679.00 shares (0.07631%), with sole voting and dispositive power over all its holdings.
- The reporting persons collectively hold sole voting and dispositive power over 9,308,611 shares and shared voting and dispositive power over 600 shares.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing disclosing beneficial ownership, providing factual information without expressing positive or negative sentiment regarding the issuer's performance or outlook.
Positives
- The filing indicates continued institutional investment in Gildan Activewear Inc. by multiple entities, which can be viewed positively for market confidence and liquidity.
- The reporting entities certify that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer, indicating a passive investment stance.
Risks
- The document does not detail specific risks related to Gildan Activewear Inc.'s operations or financial performance, as it is a beneficial ownership disclosure filing.
Future Outlook
The document is a beneficial ownership disclosure and does not contain any forward-looking statements or guidance regarding Gildan Activewear Inc.'s future performance or outlook.
Industry Context
This filing is a routine disclosure of institutional ownership in a publicly traded apparel company. It reflects the ongoing investment activities of financial institutions within the broader market, without providing specific insights into the apparel industry trends or competitive landscape.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Compliance Documentation | The filing includes a Joint Filing Agreement, indicating that the named entities are filing jointly in compliance with SEC Rule 13d-1(k). | 2024-10-28 | Ensures proper regulatory disclosure for aggregated beneficial ownership by affiliated entities. |
| Authorization for Filings | A Power of Attorney grants Kevin Brown and Mary Ingarao the authority to execute various SEC filings, including Schedules 13G and 13D, on behalf of the undersigned entities. | 2024-10-28 | Streamlines the process for regulatory compliance filings by centralizing authorization for multiple affiliated entities. |
Related Party Transactions
- The reporting entities (1832 Asset Management L.P., MD Financial Management Inc., Scotia McLeod, and Jarislowsky, Fraser Limited) are affiliated under the Bank of Nova Scotia umbrella, as indicated by the common signatory (Kevin Brown, Vice President, Asset Management Compliance, Bank of Nova Scotia) and the joint filing agreement.
Stakeholder Impact
- Shareholders: Provides transparency regarding significant institutional ownership stakes in Gildan Activewear Inc., confirming the continued interest of these investment firms.
Key Dates
| Date | Description |
|---|---|
| 2024-10-28 | Date of execution for the Joint Filing Agreement and Power of Attorney. |
| 2024-12-31 | Date of event which requires filing of this statement, representing the reporting period end for beneficial ownership. |
| 2025-01-24 | Date of signature for the Schedule 13G Amendment No. 2 filing. |
Keywords
Gildan Activewear, SEC filing, Schedule 13G, beneficial ownership, institutional investment, common shares, 1832 Asset Management, MD Financial Management, Scotia McLeod, Jarislowsky Fraser, equity holdings
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